Double Whammy for SouthGobi Shares

More than 500 meters down at Mongolia’s Oyu Tolgoi copper-gold project

The wave of auditor resignations among Hong Kong-listed companies continues, but this time it’s not a little-known small-cap company that’s in question.

On Tuesday, Mongolia-focused miner SouthGobi Resources Ltd., which is also listed in Toronto, said Deloitte & Touch LLP has resigned as an auditor “on its own initiative” and that PricewaterhouseCoopers LLP has replaced it. Deloitte resigned before its contract was up, said SouthGobi, but added that the auditor had not “expressed any reservations” in its most recent reports.

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